On January 20th, the SEC published the adopting release and text of new final rules for the representations and warranties contained in asset-backed securities offerings. The final rules require securitizers of asset-backed securities to disclose fulfilled and unfulfilled repurchase requests. The new rules also require nationally recognized statistical rating organizations to include information regarding the representations, warranties and enforcement mechanisms available to investors in an asset-backed securities offering in any report accompanying a credit rating issued in connection with such offering, including a preliminary credit rating. The new rules will be effective 60 days after publication in the Federal Register, which is expected during the week of January 24. SEC Release No. 33-9175; SEC Press Release. See also Casey Remarks (dissenting).